After a week of hearing about the continuing EU problems and everyone waiting in anticipation for the November 9th USDA report, the grain futures markets did not do a whole lot.  By the end of the week we saw Corn end 1 cent higher and Winter Wheat was 20 cents lower off of the December futures.  While Soybeans were 5 cents lower off of the January futures month and Spring Wheat ended the week 8 cents higher off of the March futures.

- Many producers selling Corn bushels this week were locking them in on Thursday, as Corn closed at and above $6.00 cash for all shuttle loading facilities and partnered ethanol plants.  Popular targets points for nearby Corn is rather varied, as they are being placed at 5 cent increments at and above the $6.10 cash mark.  While many producers that are looking to lock down some New Crop 2012 bushels are eyeing futures fixed targets at the $6.75 and $7.00 mark.

- A majority of producers looking to sell Soybeans this week were taking advantage of the 24 cent rally we saw on Thursday which put most shuttle loader bids above the $11.50 cash Soybean mark.  Currently popular Soybean target points are looking to capture $12.00 cash soybeans for nearby delivery or to price bushels off of DP.  While other producers are looking to lock in some New Crop 2012 Soybean bushels at the $14.40 futures fixed mark.

- Producers interested in selling Spring Wheat and Winter Wheat this week were contracting them for November or December delivery with cash prices around $9.00 and better for Spring Wheat and cash prices around $7.00 for Winter Wheat as cash prices continue to firm more for nearby delivery over forward month delivery.  Producers placing targets for spring wheat are looking to sell some at futures prices of $10.00 and better.

Alpena, Mellette, Redfield and Wolsey are the best elevator bids along Hwy 281 for April and May delivery with a current cash bid of $6.25 for April delivery.  A producer can pick up around 20 cents cash carry for Corn contracted for May delivery over November delivery.

Currently, most of the wheat grower shuttle loading facilities are paying $11.47 cash for nearby delivered soybeans.  Also, a producer can pick up around 10 cents cash carry for Soybeans contracted for February delivery over November delivery.

Mellette is posting the best Spring Wheat cash bids north of along highway 281 for January delivery with a cash price of $9.16.  Alpena and Wolsey are posting the best Winter Wheat cash bids along highway 281 for January, April, and May delivery with a cash price of $7.01 for January delivery.

For the week in local cash prices:
     Corn – Nearby prices Increased by 5 cents, New Crop 2011 prices Decreased by 3 cents;
     Soybeans – Nearby prices Increased by 6 cents, New Crop 2012 prices Decreased by 6 cents;
     Spring Wheat – Nearby prices Increased by 33 cents, New Crop 2012 delivery prices Decreased by 7 cents;
     Winter Wheat – Nearby prices Decreased by 15 cents, New Crop 2012 delivery prices Decreased by 22 cents;

Upcoming dates to note:
     - November 9thUSDA Crop Production Report @ 7:30am
     - November 9thUSDA Supply & Demand Report @ 7:30am
     - November 10thExport Sales @ 7:30am

*Always call a specific location for space and receiving capabilities.
*The information contained above was taken from sources which Wheat Growers believe to be reliable, but is not guaranteed by Wheat Growers as to accuracy or completeness and is made available for information purposes only.  There is a risk of loss when trading commodity futures and options.